Indian Wood Products Co. Ltd. (IWP.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+22.1%

₹41.66

vs ₹34.12 price

Levered DCF

₹71.06

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	41.69×	39.82×	51.93×	66.55×	-364.88×	118.18×	22.13×	30.98×
P/B	0.52×	0.59×	0.53×	0.35×	0.61×	0.71×	0.44×	1.52×
P/S	0.83×	0.93×	0.99×	0.68×	1.2×	1.58×	0.81×	2.62×
EV / EBITDA	15.19×	17.69×	16.76×	16.08×	31.7×	24.38×	11.42×	17.33×
Gross margin	23.6%	24.8%	11.6%	29.1%	23.3%	11.5%	33.0%	38.4%
Operating margin	5.0%	5.6%	5.8%	4.0%	3.0%	4.9%	8.9%	15.5%
Net margin	2.0%	2.3%	1.9%	1.0%	-0.3%	1.3%	3.7%	8.4%
Current ratio	1.52×	1.42×	1.45×	1.41×	1.43×	1.43×	1.33×	1.44×
Debt / equity	0.19×	0.22×	0.22×	0.22×	0.22×	0.2×	0.22×	0.16×
Interest coverage	1.73×	1.59×	1.33×	1.06×	0.8×	1.13×	2.57×	6.28×
Dividend yield	0.5%	0.3%	0.2%	0.3%	0.3%	0.2%	1.0%	0.2%
Payout ratio	21.2%	12.0%	8.8%	17.5%	-105.8%	29.8%	21.4%	5.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.3%	1.5%	1.0%	0.5%	-0.2%	0.6%	2.0%	4.9%
Return on invested capital	1.6%	1.9%	1.9%	1.2%	0.8%	1.4%	2.4%	4.5%
Return on assets	0.9%	1.0%	0.7%	0.3%	-0.1%	0.4%	1.3%	3.4%
Free cash flow yield	6.8%	1.3%	4.6%	7.2%	-0.1%	6.4%	-7.1%	-2.3%
Earnings yield	2.4%	2.5%	1.9%	1.5%	-0.3%	0.8%	4.5%	3.2%
Enterprise value	₹2.6B	₹2.9B	₹2.7B	₹2B	₹2.9B	₹3.2B	₹2.3B	₹5.8B
Net debt / EBITDA	3.93×	4.76×	4.81×	6.08×	8.4×	5.26×	3.78×	1.54×
Cash conversion cycle (days)	147	192	210	223	225	244	203	184